The Canadian Press
Published Thursday, May 9, 2013 8:52AM EDT
Last Updated Thursday, May 9, 2013 8:53AM EDT
TORONTO -- Canadian Tire Corp. Ltd. (TSX:CTC.a) announced Thursday that it will create a $3.5-billion real estate investment trust to unlock the value of its property holdings, with an initial public offering expected later this year.
The move follows on the heels of a similar plan by grocer Loblaw Companies Ltd. (TSX:L).
It came as the high-profile retailer of general merchandise, sporting goods, financial services and automotive products and services announced a 2.9 per cent increase in first-quarter